Unbelievable

I can't believe this market. What is it going to take for the meltdown to occur? All companies need to do is beat reduced earnings expectations in the face of slower earnings growth and people are throwing money at these stocks. Makes no sense. Hopefully my being cautious will payoff in the long run, but for now I am getting left in the dust. It is difficult to chase stocks at these levels.

Reluctant Trades

I have pressed my bets today. So far it isn't looking very good. Todays action does not feel good. Maybe I will be making up some of my losses in SDS and MZZ. I was way early on them. Trying one of Fly's buys, WGAT. So far going nowhere. Wouldn't be surprised to be stopped out with some small profits and losses that net me nothing....

Monday, Monday open

Well it appears we are going to rock out of the gate. It looks like my two shorts are going to continue going in the hole and it looks like I am going to need to put on a few trades and do a little performance chasing to try and keep making more money. Just goes to show that I shouldn't try to predict what is going to happen.

Weekly roundup

Up 1.5% this week. Not bad but lagged the indexes again. My two shorts are what hurt me. I am keeping them at least for now and may take more off the table next week and add a couple of more shorts. If this market holds and heads higher from here I will be shocked.

Took some off table

I sold some stuff to raise a little cash. Did okay on all trades made, but I need to try and figure out how I can get a better exit price. I am expecting a downturn. It seems as though this market hasn't followed my game plan over the last year and I will regret my sales if we continue to move higher. I have to believe that the end of this long 4 year rally is near. I may increase my shorts next week.

Many of the bloggers I am following are making big bucks on their stock picks. I am thinking about jumping on board on some of them. Could possibly be making thousands more than I currently am.

new high

Closed at a new high today. Thats a new high since 2001. My shorts are dragging me down a little and if things continue like this they may drag me down a lot. But I don't want to sell them. I am convinced that a downturn is right around the corner. But I've been wrong before. Got to decide whether to continue holding through the weekend or take what I got right now. I could make another 3,000. How are earnings going to be? I guess if the forecasts have been low-balled good enough most companies will beat and it will still be party time. But how long can these companies keep playing this game? When is reality going to hit? I am planning over the next month at unloading most of my longs and getting more short using the proshares ultra funds. I hope I don't get hurt, because it is basically placing a bet on what the future will bring, which I think is lower prices.